Pls find below both variations of our VIX OSC. Both seem to turn and both seem to continue sporting gigantic divergences (lower highs vs a rising stock market) which raises at last a huge red flag !!!
RISK TRADE UPDATE:
With our late bloomer the banks are gettin taken to the woodshed yesterday we have to re-evaluate the position of the overall RISK TRADE.
So far we have a nice divergence in the VIX, some early move on the FX side, but we still need to see confirmation on the credit side.
in plain english:
WATCH HIGH YIELD !!
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